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The LGL Group, Inc. Reports Q2 2017 Financial Results

The LGL Group, Inc. (NYSE American: LGL) (the "Company" or "LGL"),
announced results for the three and six months ended June 30, 2017.

Summary of Q2 2017 Financial Results:

Revenues of $5.9 million, up 12.0% compared to Q2 2016

Net income of $0.01 per share, consistent with Q2 2016

Order backlog improved 12.3% to $10.9 million, compared to $9.7
million at June 30, 2016

Adjusted EBITDA(1) was $0.09 per share, compared to $0.08
for Q2 2016

Commenting on the Company's Q2 2017 results, Chairman and CEO, Michael
J. Ferrantino, Sr. said, "I would like to share with you a little more
detail around the financial results for this quarter. First, we are
always pleased to have a positive book to bill ratio which certainly is
an indicator of how the future of the business is trending. What is most
significant about this last quarter is the increase in revenue was
primarily generated by engineering prototypes; investments that we are
confident will produce future revenue streams once qualified by our
customers."

Our Strategy

Mr. Ferrantino had these comments regarding the Company's strategy, "Our
organic strategy continues to be providing complex, less competitive
integrated assemblies. This will, however, create some unevenness to
quarter over quarter revenue growth since the dollar value of some of
these projects can be substantial. As a result, we expect the third
quarter revenues to be down from the second quarter, and back up again
for the fourth quarter."

Mr. Ferrantino continued, "As for our external strategy, we have
increased our acquisition bandwidth to include companies that are inside
and outside of our current space. At LGL, we will look outside of our
industry for undervalued companies much like ours where our management
expertise can rapidly drive top and bottom line growth. Our motivation
continues to be increasing shareholder value as quickly as we can."

About The LGL Group, Inc.

The LGL Group, Inc., through its two principal subsidiaries MtronPTI and
PTF, designs, manufactures and markets highly-engineered electronic
components used to control the frequency or timing of signals in
electronic circuits, and designs high performance Frequency and Time
reference standards that form the basis for timing and synchronization
in various applications.

Headquartered in Orlando, Florida, the Company has additional design and
manufacturing facilities in Yankton, South Dakota, Wakefield,
Massachusetts and Noida, India, with local sales offices in Hong Kong,
Sacramento, California and Austin, Texas.

For more information on the Company and its products and services,
contact Patti Smith at The LGL Group, Inc., 2525 Shader Rd., Orlando,
Florida 32804, (407) 298-2000, or visit www.lglgroup.com
and www.mtronpti.com.

Caution Concerning Forward Looking Statements

This press release may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21 E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements include all
statements that do not relate solely to historical or current facts, and
can be identified by the use of words such as "may," "will," "expect,"
"project," "estimate," "anticipate," "plan," "believe," "potential,"
"should," "continue" or the negative versions of those words or other
comparable words. These forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements are
based on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and risks
that could significantly affect current plans, anticipated actions and
our future financial condition and results. Certain of these risks and
uncertainties are described in greater detail in our filings with the
Securities and Exchange Commission. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.

To supplement our consolidated condensed financial statements presented
on a GAAP (generally accepted accounting principles) basis, the Company
uses certain Non-GAAP measures, including Adjusted EBITDA, which we
define as net income (loss) adjusted to exclude depreciation and
amortization expense, interest income (expense), provision (benefit) for
income taxes, stock-based compensation expense and other items we
believe are discrete events which have a significant impact on
comparable GAAP measures and could distort an evaluation of our normal
operating performance. These adjustments to our GAAP results are made
with the intent of providing both management and investors a more
complete understanding of the underlying operational results and trends
and our marketplace performance. The presentation of this additional
information is not meant to be considered in isolation or as a
substitute for net earnings or diluted earnings per share prepared in
accordance with generally accepted accounting principles in the United
States.

Reconciliation of GAAP Income (Loss) Before Income
Taxes to Non-GAAP Adjusted EBITDA:

For the period ended June 30, 2017 (000's, except shares and per
share amounts)

Three months

Six months

Net income before income taxes

$

45

$

159

Interest expense

5

11

Depreciation and amortization

176

363

Non-cash stock compensation

8

15

Adjusted EBITDA

$

234

$

548

Basic per share information:

Weighted average shares outstanding.

2,675,465

2,675,465

Adjusted EBITDA.

$

0.09

$

0.20

Diluted per share information:

Weighted average shares outstanding.

2,687,774

2,688,127

Adjusted EBITDA.

$

0.09

$

0.20

For the period ended June 30, 2016 (000's, except shares and
per share amounts)

Three months

Six months

Net income (loss) before income taxes

$

15

$

(111

)

Interest expense

7

13

Depreciation and amortization

197

401

Non-cash stock compensation

3

(13

)

Gain on disposal of assets

-

(36

)

Adjusted EBITDA

$

222

$

254

Weighted average number of shares used in basic and diluted EPS
calculation